For purposes of NRS 692C.360 to 692C.400, inclusive, an extraordinary dividend or distribution includes any dividend or distribution of cash or other property, whose fair market value together with that of other dividends or distributions made within the preceding 12 months exceeds the lesser of:
1. Ten percent of the insurer’s surplus as regards policyholders as of December 31 next preceding the dividend or distribution; or
2. The net gain from operations of the insurer, if the insurer is a life insurer, or the net income, not including realized capital gains if the insurer is not a life insurer, for the 12-month period ending December 31 next preceding the dividend or distribution,
Ê but does not include pro rata distributions of any class of the insurer’s own securities.